Скачать или смотреть Bank failures are key to a healthy system: Former FDIC chair

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Shares of First Republic (FRC) fell further Friday, as the bank teeters on the brink of failure. That's not necessarily a bad thing, according to former FDIC chairman Bill Issac. Banks should be allowed to fail "more often," Issac told Yahoo Finance's Rachelle Akuffo. When an institution goes under it's "not the end of the world," but instead clears out banks that "don't belong in the system." The key is making sure innocent, smaller depositors with under $250,000 in deposits who "don't have the means to really examine a bank" are protected. In a report out this morning, the Fed concluded that while Silicon Valley Bank failed "because of a textbook case of mismanagement by the bank," Federal Reserve supervisors are also to blame for failing "to take forceful enough action on bank management and central bank regulators." Now, all eyes are on First Republic after CNBC reported the bank is likely headed for FDIC receivership. In his full conversation with Rachelle Akuffo, Bill Issac lays out his suggested changes for the deposit insurance system, and what's next for First Republic (FRC).
Key video moments:
00:00:22 We should let banks fail more often
00:01:00 If a bank fails, we should leave the money in the system
00:01:49 Bank failure is not the end of the world

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